Obama Calls For $302B To Repair Aging Roads, Bridges

Law360, New York (February 26, 2014, 7:42 PM EST) -- President Barack Obama on Wednesday called for Congress to approve $302 billion to improve the nation's aging highways and bridges, proposing to pay for them by closing tax loopholes, as the country's Highway Trust Fund is slated to run out in September.

Obama said approving the $302 billion funding would mean saving 700,000 jobs related to highways, bridges, railways and mass-transit systems, which rely heavily on federal funding and could make a difference in the pace of the economic recovery, according to the president.